Third Party Logistics market in APAC is expected to grow from US$ 298.7 Bn in 2017 to US$ 467.5 Bn by the year 2027. This represents a CAGR of 5.9% from the year 2018 to 2027.

Reducing overall operational cost and focus on managing timely delivery is fueling the APAC third party logistics market. Logistics is the core area of the third party logistics (3PL) firms and their proficiency in this areas is always superior to that of the core companies. 3PL firms have the expertise to keep IT systems updated and deliver the logistic services more time & cost effectively along with this they own the ability to meet the technical requirements. Moreover, 3PL firms also help to reduce inventory cost and can strategize to reduce a company's overall shipping & delivery costs as well. The core companies may not have that time or expertise to keep logistic services and systems updated. The company often face challenges meeting timely delivery of products during high business growth, thereby driving the third party logistics market in APAC. This factor has created a potential market space for APAC third party logistics market.

China is anticipated to leads the third party logistics market across the APAC region through the forecast period. China is the important automobile markets in APAC. Further, the country occupies the lion's share in the third party logistics market. The factors such as continual urbanization, strong economic growth, and growth in middle-class population supported the growth in domestic consumption of fast-moving consumer goods for everyday consumption, personal automobiles, household items, and luxury items. This in turn increases the retail sales and makes Asia-Pacific the leading market for logistics service consumer. This bolster the APAC third party logistics market on the forecast period. The figure given below highlights the revenue share of Russia in the APAC third party logistics market in the forecast period:

The mounting application of software solutions is anticipated to fuel the APAC third party logistics market growth. Logistic is the complex process which involves flow of multiple goods and information across network of suppliers, carriers, and warehouse. This complexities can be handled using software systems which allows to analyze real time and real-world data. This implementation of software systems improve lead times, reduce excess inventory levels, help in resolving warehousing issues, and decrease inventory costs. Increased competitiveness in the industry is the major reason for the third party investing in automation and digitization. In coming years, the 3PL firms are expected to shift towards mobile technology in order to reduce the paper records. For instance, Kuehne + Nagel introduced KN SwiftLOG, which a digital platform is made for for e-fulfilment centres, omni-channel fulfilment. And first execution in China. These initiative by the market player are enhancing the growth of APAC third party logistics market.

Table of Content:

LIST OF TABLES

TABLE 1.APAC THIRD PARTY LOGISTICS MARKET REVENUE AND FORECASTS TO 2025 (US$ BN)

TABLE 2.APAC THIRD PARTY LOGISTICS MARKET REVENUE AND FORECASTS TO 2027 – BY MODE OF TRANSPORT (US$ MN)

TABLE 3.APAC THIRD PARTY LOGISTICS MARKET REVENUE AND FORECASTS TO 2027 – BY SERVICE (US$ MN)

TABLE 4.APAC THIRD PARTY LOGISTICS MARKET REVENUE AND FORECASTS TO 2027 – BY END-USER (US$ MN)

TABLE 5.APAC THIRD PARTY LOGISTICS MARKET REVENUE AND FORECASTS TO 2027 – BY CUSTOMER (US$ MN)

TABLE 6.APAC THIRD PARTY LOGISTICS MARKET REVENUE AND FORECASTS TO 2027 – BY COUNTRY (US$ MN)

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Semiconductors, Healthcare, Manufacturing, Automotive and Defense.

Contact Us:
Call: +1-646-491-9876
Email: sales@theinsightpartners.com

This release was published on openPR.

Permanent link to this press release:

Copy

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

More Releases from The Insight Partners

The Global Building Analytics Market Research Report Forecast 2019-2024: The research study has been prepared with the use of in-depth qualitative and quantitative analyses of the global Building Analytics Market. The report offers complete and intelligent analysis of the competition, segmentation, dynamics, and geographical advancement of the Global Building Analytics Market. It takes into account the CAGR, value, volume, revenue, production, consumption, sales, Manufacturing cost, prices, and other key factors…

The artificial intelligence in accounting is driven by the rise in accounting data and data management needs. The ability of artificial intelligence to process data at super speed and reduce errors is the critical factor augmenting its use in accounting applications. With maximum developments for AI in accounting space, the North America market is expected to generate significant opportunities for the market players in the forecast period.
The artificial intelligence in…

Manufacturing operation management software is designed for managing end-to-end manufacturing process across various industry verticals. The software provides full transparency into the process of the manufacturing process and subsequently helping in improving the manufacturing operation process. Moreover, the software also provides better flexibility and improves the efficiency of the manufacturing plant. This software solution is widely used across various industries such as automotive, chemical, pharmaceuticals, food & beverages, consumer goods,…

A Virtual Data Room (VDR), often considered as a secure and confidential virtual meeting room, is a repository of data stored online. Enterprises usually utilize virtual data room for sharing and distributing critical information with external partners and customers in an online, secure environment. The virtual data room allows parties to access sensitive documents related to a specific transaction for authorized users. The documents stored in a virtual data room…

More Releases for APAC

On the back of rapid urbanization in several emerging economies in Asia Pacific, the global elevators market is flourishing. A recent business publication by Transparency Market Research (TMR) has evaluated the lucrativeness of the market for elevators and escalators across the world and forecasted the demand, in terms of value, to increment at a notable CAGR of 7.4% during the forecast period of 2016 to 2023. In terms of volume,…

The latest industry research report on Food Service by MRC provides a thorough analysis of the Food Service market. The report scrutinizes the market by different segments including regions, applications, competitive landscape, etc. over the predicted time frame. This report provides 360 Degree perspective of the Food Service industry with an all-inclusive discussion of definitions, classifications, and market players in the industry chain structure. It features qualitative and quantitative analysis…

ReportsWorldwide has announced the addition of a new report title APAC: Agrochemicals: Market Intelligence (2016-2021) to its growing collection of premium market research reports.
The report “APAC: Agrochemicals: Market Intelligence (2016-2021)” provides market intelligence on the different market segments, based on type, active ingredient, formulation, crop, and pest. Market size and forecast (2016-2021) has been provided in terms of both, value (000 USD) and volume (000 KG) in the report. A…

The global Food Retail market was valued at USD 5,643.6 billion in 2013 and is expected to grow at a CAGR of 6.1 % from 2014 to 2020, to reach an estimated value of USD 8,541.9 billion in 2020.
For More Information Request TOC (desk of content material), Figures and Tables of the report @ http://www.persistencemarketresearch.com/market-research/food-retail-market/toc
Rise in the global population, changing customer preferences, and emerging economies are making the way…

The global Clinical Nutrition market was valued at USD 36.9 billion in 2013 and is expected to grow at a CAGR of 4.1% from 2014 to 2020, to reach an estimated value of USD 48.6 billion in 2020.
For More Information Request TOC (desk of content material), Figures and Tables of the report @ http://www.persistencemarketresearch.com/market-research/clinical-nutrition-market/toc
Nutrition provides human beings with the required amount of proteins, carbohydrates, fats, water, vitamins, and minerals…

About Information Technology Outsourcing (ITO) in APAC
The ITO market in APAC is gaining ground with increased IT spending and related outsourcing activities by organizations in the region to stay competitive in todays globalization. ITO services help organizations to manage their IT functions through IT expert team and innovative technologies. C-level executives of the companies have realized benefits of implementing outsourcing services for their IT functions and are increasingly supporting such…

Comments about openPR

I can't but agree to the positive statements about your portal: easy to use, clear layout, very good search function, and quick editing!Jens O'Brien, Borgmeier Media Communication